Hotline: 1800 102 2007
X
Search Business Opportunities
Apr, 05 2018

Blume, Leo Capital Back Diabetes management startup app BeatO

BeatO had previously raised an angel round from a few individual investors that included Rajeev Chitrabhanu as well as Vishal Sampat.

 

In a round co-led by Blume Ventures and Leo Capital, Delhi-based Health Arx Technologies Pvt. Ltd operated diabetes management app BeatO, has raised $1.3 million (Rs 8.45 crore).

The startup plans to use the money received to ramp up its technology backbone as well as to supplement its range of product categories including diabetic snacks and specialty foods, co-founders Yash Sehgal and Abhishek Kumar said in a press release.

Founded in 2015 by Sehgal, Kumar and Gautam Chopra Through a mobile app, BeatO offers a comprehensive diabetes management and care platform through its glucose monitoring solutions. It also offers diabetes-specific products such as diabetic snacks, specialty food, and footwear.

The company claims 25,000 active users from 1,500 cities are using its product and services. It also claims its revenue has grown 10 times within a year.

Arpit Agarwal, principal, Blume Ventures said, “BeatO is different from other players in the segment given their approach allows patients to manage diabetes effortlessly by having a wide array of healthy lifestyle choices available to them on a single platform.”

BeatO had previously raised an angel round from a few individual investors that included Rajeev Chitrabhanu, an early investor in companies like Nazara Technologies and Rentomojo, as well as Vishal Sampat, founder of digital agency Convonix.

Co-founder and CEO Chopra said India is likely to have 100 million diabetics by 2030. “This puts tremendous pressure on all stakeholders in the healthcare ecosystem both from a cost and well-being perspective to specially cater to this large demographic,” he said.

In the mobile app-based diabetes management and care segment, BeatO will compete with the likes of Wellthy. Last month, Mumbai-based Wellthy Therapeutics Pvt. Ltd raised Rs 13.5 crore ($2.1 million) in a seed funding round led by the family office of Ranjan Pai, chairman of Manipal Education and Medical Group.

Comment
Related opportunities
  • Computer Hardware & IT
    About Us: Relops Services Pvt. Ltd. - Start a business in..
    Locations looking for expansion Haryana
    Establishment year 2014
    Franchising Launch Date 2015
    Investment size
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type -NA-
    Headquater Faridabad Haryana
  • About Us: Cambridge Montessori Pre School and Day Care is poised..
    Locations looking for expansion New Delhi
    Establishment year 2016
    Franchising Launch Date 2016
    Investment size Rs. 5lac - 10lac
    Space required 3000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Central Delhi New Delhi
  • Quick Service Restaurants
    About Us: The inception of the company begin with a humble..
    Locations looking for expansion Andhra pradesh
    Establishment year 2010
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 250
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater hyderabad Andhra pradesh
  • Juices / Smoothies / Dairy parlors
    About Us: At Lassi Corner, we strive to help people transform..
    Locations looking for expansion Karnataka
    Establishment year 2016
    Franchising Launch Date 2017
    Investment size Rs. 5lac - 10lac
    Space required 125
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities